BUILDING NEW STRATEGIES FOR RETAIL
Following our previous analysis, we believe that we can systematize the most important steps to be taken when moving forward with an investment for a new project, be it a new construction or refurbishment:
I – WHERE TO INVEST?
Cities are ever changing urban systems. Your project can make the difference by regenerating full neighborhoods and become an anchor for urban redevelopment. Reinforce the social approach of the project from the start; this will give a positive boost within public opinion.
II – LISTEN CAREFULLY!
Going beyond the traditional Market Research Studies by collecting Big Data information for a better understanding of consumer habits and to make sure you’ll provide what they are really looking for. Customers should be understood as critically informed citizens and space users with an increasingly complex and changing taste.
Feel the pulse of the area your project will be implemented, predict what your potential clients are looking for and adapt to meet their expectations in multiple perspectives.
III – FIND OUT WHAT IS MISSING & CREATE A TRUE EXPERIENCE
Act in the smaller scale and attend the demands of the population living in the catchment area and beyond.
Provide functionalities that are missing and can bring people together. This will trigger your business and give your natural customers something they are really looking for.
Emphasis must be given on areas for shared activities, where people feel engaged within a community or a common activity. Mixed use functions make buildings more useful and necessary for daily life.
Classic retail brought together with public utility like Child Care, Clinics, Post Offices or Libraries can generate true Neighborhood Hubs. Programs more focused in the younger generations like Co-living and Co-working can create strong entrepreneurship and networking hubs.
IV – SUSTAINABILITY & COMMUNITY
Given the present concerns with Global Warming and Climate Change it is a must that new projects take sustainability issues in consideration since the inception stage until the end.
From the early due diligence process, through all the design stages – Master planning, Architecture, Engineering, Landscape, Lighting, etc. – to construction and final handing of the project, a holistic approach regarding environmental and social aspects must be taken into account.
As an example, fair trade and re-use concepts can co-exist with traditional retail in the same venue.
V – BOLD DESIGN
Having in mind all the described principles, the design approach would be the main display of all these ideas. The building should project the engaged attitude of the new times we live combined with the best shopping experience.
Work closely with architects, designers and local governments to build the attractive platform that can make the project become a social hub for a broad range of the population.
Commercial space should offer flexible spaces for spontaneous events, social gatherings and new forms of product display.
VI – SMART TECH & SOCIAL MEDIA
The physical world must pair with the virtual one. Create apps that engage and give customized seamless experiences to your customers. Make those online tools reach beyond shopping and enable them to take part in a broader experience that relates with the community.
Captivate customers by making them take part of life changing like social projects such as fair trade fairs and similar common causes.
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